PARIS Financial Planning

Women's Stats

As a woman we often care for others at our own expense, neglect our careers and our wishes to raise families and form communities - and by the time we reach middle-age we wonder where it all went and why are we still here.

There are an estimated of 781 million illiterates adults in the world, 64% of whom are women.

Women have longer life expectancies. Women live an average of 4.8 years longer than men.

Women generally earn less and have fewer savings. According to the Bureau of Labor Statistics, within most occupational categories, women who work full-time, year-round, earn only 82% (on average) of what men earn

Women are more likely to take career breaks for caregiving. Seven years out of the workforce "cost you 10 years of wages" over the course of a woman's career, said Joyce P. Jacobsen, co-author of the study and an assistant professor of economics at Rhodes College in Memphis, Tenn.

Women are more likely to be living on their own. Whether by choice, divorce, or death of a spouse, more women are living on their own. Almost half of older women (47%) age 75+ live alone.

Women sometimes are more conservative investors which mean their savings might not be on track to meet their financial goals. Older women had a higher poverty rate (10.7%) than older men (6.7%) in 2010.

Women need to protect their assets. Without an asset protection plan, a woman's wealth is vulnerable to taxes, lawsuits, accidents, and other financial risks that are part of everyday life.

Women are better investors than men. A raft of surveys indicate that women do more research, are better at matching their investments to their goals, trade less and remain calmer during market upheavals.

How do we begin reversing these alarming trends? First, with education. See how Savvy Women Safe Money might help you from becoming one of the stats we fear most. Join me at one of my Savvy Women ~ Safe Money series.

Financial Planning Stats

Vanguard released a paper in 2014 that found a financial advisor can add as much as approximately 3% of value in net portfolio returns per year through smart financial decisions.

A study by Morningstar found that advice from a financial planner can add 29% more wealth through retirement.

A recent study by John Hancock Retirement Plan Services found that 70% of those who work with a financial advisor or planner is on track or ahead in saving for retirement, compared with 33% of those not working with an advisor.

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